2000 E 23rd St, Chattanooga, TN 37404

155-Unit Apartment Conversion Opportunity | Zoned Multifamily | Chattanooga TN | Value-Add

Marketing Description

Fully Zoned for Apartments | 155 Units | 4+ Acre Site | Minutes from Downtown Chattanooga

Property Description

The Chatt Inn is a 155-unit multifamily conversion opportunity located in Chattanooga, TN. Fully zoned for apartments, the asset offers a streamlined path to repositioning with minimal entitlement risk, allowing investors to focus directly on renovation and stabilization.

The property consists of exterior corridor units with an interior front component, situated on over 4 acres. Renovations are permitted, with plans to complete unit upgrades including kitchenette installations, positioning the asset for transition into studio apartments or continued extended stay operations.

Existing infrastructure includes in-unit appliances (refrigerators and microwaves), on-site guest laundry, and free Wi-Fi. The property also features direct access to a public bus line, enhancing accessibility for workforce housing demand.

Additional income potential is supported by a leased ±2,100 SF Home Slice Pizza space and a ±5,000 SF ballroom/conference center. Located just minutes from downtown Chattanooga, the property benefits from strong proximity to employment, retail, and transportation corridors.

With zoning secured, scale established, and multiple revenue streams in place, The Chatt Inn presents a high-upside repositioning opportunity in a growing Tennessee market.

Investment Highlights

• 155 Units
• Fully Zoned for Apartments
• 4+ Acre Site
• Renovation Permitted (Conversion-Ready)
• Exterior Corridor w/ Interior Front Component
• Direct Access to Public Transit (Bus Line)
• On-Site Guest Laundry
• Refrigerators & Microwaves in Units
• Free Wi-Fi
• ±5,000 SF Ballroom / Conference Center
• ±2,100 SF Retail (Home Slice Pizza – Leased)
• Minutes from Downtown Chattanooga
• Flexible Exit: Apartments or Extended Stay